India has also come under Trump’s fire as a member of intergovernmental grouping BRICS, which is led by U.S.-sanctioned countries Russia, China and Iran, as well as Brazil and South Africa. Trump threatened an additional 10% tariff on BRICS members, which he said were aligning themselves against the U.S.

Crude oil prices may surge if India halts its Russian imports, people in the know told CNBC-TV18. India buying Russian oil is critical to maintaining price stability, the sources said. The United States' 25% reciprocal tariffs on India,

India has indicated that it would continue buying oil from Russia despite threats by U.S. President Donald Trump. The Indian foreign ministry said its relationship with Russia was “steady and time-tested,